SOLUTION: Compute the total amount of money in an account that began with 25000 invested at 4% compounded quarterly for 5 years

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Compute the total amount of money in an account that began with 25000 invested at 4% compounded quarterly for 5 years       Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 868032: Compute the total amount of money in an account that began with 25000 invested at 4% compounded quarterly for 5 years
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
A+=+25000%281.01%29%5E%2820%29
In General A%28t%29+=+P%281%2Br%2Fn%29%5E%28nt%29
A = Accumulated Amount
P= principal = 25000
r= annual rate = .04
n= periods per year = 4
t= years = 5